Q3 2024 EPS Estimates for Netflix, Inc. Lowered by Analyst (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Research analysts at Seaport Res Ptn lowered their Q3 2024 earnings per share (EPS) estimates for Netflix in a research report issued to clients and investors on Friday, April 19th. Seaport Res Ptn analyst D. Joyce now anticipates that the Internet television network will earn $4.55 per share for the quarter, down from their prior forecast of $4.56. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Netflix’s current full-year earnings is $17.13 per share. Seaport Res Ptn also issued estimates for Netflix’s Q1 2025 earnings at $5.81 EPS, Q2 2025 earnings at $5.69 EPS, Q3 2025 earnings at $5.48 EPS and FY2025 earnings at $22.18 EPS.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis.

NFLX has been the subject of several other research reports. Canaccord Genuity Group cut Netflix from a “buy” rating to a “hold” rating and cut their price target for the company from $720.00 to $585.00 in a report on Friday, April 19th. KeyCorp increased their price target on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $725.00 price target on shares of Netflix in a report on Friday, April 19th. Loop Capital increased their price objective on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Barclays increased their price objective on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $630.58.

Netflix Price Performance

NASDAQ:NFLX opened at $577.75 on Monday. Netflix has a one year low of $315.62 and a one year high of $639.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The stock has a market cap of $248.95 billion, a PE ratio of 40.09, a P/E/G ratio of 1.49 and a beta of 1.22. The stock has a 50 day moving average price of $606.05 and a 200 day moving average price of $517.65.

Insider Activity

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,106 shares of company stock worth $92,729,716. Corporate insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Netflix during the fourth quarter worth about $2,558,598,000. Wellington Management Group LLP boosted its holdings in Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after purchasing an additional 2,061,859 shares in the last quarter. Jennison Associates LLC boosted its holdings in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Netflix in the 1st quarter valued at approximately $436,514,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.